Tim Cook To Step Down As Apple Names New Ceo

$AAPL @Apple has confirmed that Tim Cook (@tim_cook) will step down as chief executive later this year, ending a tenure that has defined one of the most valuable companies in history. Cook, who took over from Steve Jobs in 2011, will transition into the role of executive chairman of the board.

John Ternus, currently head of hardware engineering at @Apple, will succeed him as CEO. Ternus has overseen some of the company's most significant product development in recent years, including the transition to Apple Silicon chips. The leadership change is set to take effect on September 1, 2026.

According to @Apple, the move follows a long-planned succession process that was approved by the company's board of directors. The structured handover is consistent with how major corporations typically manage CEO transitions to ensure continuity and investor confidence.

Cook's departure marks the end of an era for one of the world's most closely watched companies. Under his leadership, @Apple's market capitalisation grew from around $350 billion to well over $3 trillion, driven by expansion into services, wearables and a steady cadence of iPhone upgrades. His shift to executive chairman keeps him connected to the company's strategic direction while clearing the path for new leadership.